Protect What Matters

You have worked hard to acquire your home and its contents. It may be your most valuable asset, but in one catastrophic event, it could be gone. Breathe easy! JNGI is here to work with your to protect your home against disaster and to provide peace of mind with three easy steps:

Check to ensure that your property is not underinsured.

Property insurance claims are subject to the Condition of Average (Average) and if your property is underinsured, in the event of a loss, you will be unable to recover the full cost of any damage to your home.

For example, if your property replacement value is $10,000,000.00 and you insure it for $7,000,000.00 (sum insured) and you suffer a loss from an insured peril totaling $5,000,000.00, you will only recover $3,500,000 given the Condition of Average. Therefore, the remaining amount of $1,500,000.00 would have to be covered by your own resources.

The formula that is applied to calculate your Recoverable Amount is:

Where you are covered for the value of the property, the Condition of Average would not apply.

Calculate the value of your property

You can determine the replacement value of your property by:

Getting a valuation report from a property valuator. Below are two companies that provide valuations for insurance purposes: